Private Sale Auto Loans

While most people typically go shopping at a dealership when buying a car, sometimes it can be easier, cheaper, or less hassle to buy from a private seller. And you might not realize it, but you can still acquire financing for those private vehicle purchases from Amherst FCU. Here’s how it works:

1. What is a “private sale”? A “private sale” refers to a vehicle being sold directly to an individual by a private seller/party rather than a dealership or other business. Private sales typically occur between family members or friends, or are facilitated through a third-party service like Craigslist or Facebook Marketplace.
2. Vehicle Valuation. The most important thing to keep in mind when attempting to secure financing for a private sale is the value of the vehicle. It is our policy that we can only lend up to what a vehicle is worth per reputable reference sources like Kelley Blue Book. This helps ensure you don’t end up overpaying for a vehicle.
3. Purchase Agreement. Even though it’s a private sale, we do still require a contracted “purchase agreement” or “bill of sale” between the buying and selling parties. Basic information about the vehicle and both parties are required, and a free template can be found on our website here. (https://amherstcu.com/forms.php)
4. Lending policy. Keep in mind all auto lending policies still apply in regard to vehicle age, as well as income and credit qualifications.

Published November 1, 2025